KeyCorp (NYSE:KEY) Shares Bought by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in KeyCorp (NYSE:KEY) by 56.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,948 shares of the financial services provider’s stock after acquiring an additional 33,765 shares during the period. Mizuho Securities USA LLC’s holdings in KeyCorp were worth $1,610,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in shares of KeyCorp by 110.3% in the 4th quarter. Whittier Trust Co. now owns 1,525 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 800 shares during the last quarter. Ethos Financial Group LLC acquired a new position in KeyCorp in the fourth quarter valued at $27,000. Larson Financial Group LLC boosted its holdings in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 918 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in KeyCorp during the fourth quarter valued at about $34,000. Finally, TCTC Holdings LLC increased its stake in KeyCorp by 38.6% during the fourth quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 611 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KEY shares. Keefe, Bruyette & Woods decreased their target price on KeyCorp from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, January 22nd. Citigroup decreased their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.53.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 0.1 %

Shares of NYSE:KEY opened at $16.58 on Wednesday. The firm has a market cap of $18.32 billion, a PE ratio of -55.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.26. The company has a fifty day simple moving average of $17.05 and a 200 day simple moving average of $17.42. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 12-month low of $13.11 and a 12-month high of $20.04.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.95%. KeyCorp’s dividend payout ratio (DPR) is presently -273.33%.

KeyCorp announced that its board has authorized a stock repurchase plan on Thursday, March 13th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.